Free Budget Calculator - Plan Your Monthly Spending
Plan your monthly budget and track your spending across different categories
Formula & Methodology
This calculator helps you allocate your monthly income across different spending and saving categories to see if you are staying within your budget and identifying areas where you can optimize your finances.
- Total Expenses = Rent + Utilities + Groceries + Transport + Subscriptions + Debt + Savings + Other
- Remaining Balance = Monthly Income - Total Expenses
- Savings Rate (%) = (Savings / Monthly Income) × 100
- Category % = (Category Amount / Monthly Income) × 100
Worked Example
Using the Monthly Budget Calculator: apply the formula above to your input values. For instance, Total Expenses = Rent + Utilities + Groceries + Transport + Subscriptions + Debt + Savings + Other, then Remaining Balance = Monthly Income - Total Expenses. The tool performs each step instantly and shows the result.
Frequently Asked Questions
How do I build a monthly budget?
List your income, subtract fixed and variable expenses, and see what remains for saving, debt or discretionary spending.
What is the 50/30/20 rule?
A popular guideline allocating 50% to needs, 30% to wants and 20% to savings and debt repayment.
What if my expenses exceed my income?
The tool highlights the shortfall so you can trim spending or find income before debt builds up.